Using the Builder's Lender? Pay attention....
by Kaushik Sirkar, Chandler REALTOR®
Chandler AZ Real Estate
People buy new homes all the time. They get mortgages on these homes all the time and typically (often incentive-based) they use the builder's preferred lender. This is commonplace. Its also somewhat different than when purchasing resale homes. When purchasing a resale home, a Realtor® will often recommend a few tried and trusted lenders. In either case, as the agent, I stay very engaged with the mortgage process.
Well here is something scary. A large national builder is being investigated for potential fraud within its mortgage division. What exactly are we talking about with this fraud? We don't know. I'm guessing the details will come out in the near future.
What is the lesson here for home purchasers and their agents? Hard to say until these details come out. But pay attention. Look over all the details. Make sure all data is factual and nothing is being fudged. If its too good to be true, then it probably is....
Thanks for Reading :)
Kaushik Sirkar, Chandler Realtor®